Canal+ officially completed its takeover of MultiChoice on September 22, creating a new pay-TV powerhouse in Africa. The French media group now claims 40 million subscribers across 70 countries spanning Europe, Africa, and Asia. The restructured leadership has announced it will unveil a full strategic roadmap in early 2026. One priority is already clear: reversing subscriber losses and restoring growth at MultiChoice. This acquisition comes at a critical juncture for the African pay-TV industry, where economic headwinds and intensifying competition from digital alternatives are reshaping consumer behavior. MultiChoice has indeed been evolving in a challenging environment over the last 2 years. Inflation strongly hit major countries for the African pay TV industry, notably Nigeria, South Africa, and Zambia. Depreciation of local currencies against the US dollar reflected on MultiChoice results. In its home country, South Africa, MultiChoice went from 7.9 to 6.9 million subscribers in just two years. Despite price increases ranging from 4% to 6% depending on the subscription, yearly revenues for the country declined by 9%. The ARPU for the rest of Africa decreased by 23%. In Nigeria, where the purchasing power pressure has been especially high recently, the group lost over 1 million subscribers over the same period. The customer base in Zambia, where inflation and load-sheeding issues were particularly severe, declined by 51%. Against this backdrop, Canal+ faces the question: what are the priorities to put MultiChoice back on track? One major focus is refreshing MultiChoice’s offering to match the evolving needs of the African audiences. In July 2025, Byron du Plessis, then CEO of MultiChoice South Africa before the acquisition, stated that the company had not significantly updated its packages in over a decade, underscoring the need for a major overhaul. One content category that could benefit from an updated distribution strategy is sport. SuperSport channels are a key component of DStv’s premium and mid-market subscription packages. As the sole African owner of broadcasting rights for content like the English Premier League or the WWE, MultiChoice benefits from a leading position in sports. But two factors could hinder this advantage. First, we see globally a growing interest from streaming platforms in sports rights, and if today Africa is not a disputed territory, we could see global actors showing interest for this region, as a growing share of the population gets connected. As a result, broadcasting rights could increase. Then, as a premium content, sport is only an asset if subscribers can afford it. DStv’s premium package subscription figures have been especially impacted by the macro-environmental issues in the region. Finding new ways to monetize sport content can be a way to address the affordability challenge. Earlier this year MultiChoice's CEO explained that the group was...
